Millennium Management LLC Reduces Stake in HIVE Digital Technologies Ltd. (NASDAQ:HIVE)

Millennium Management LLC cut its holdings in HIVE Digital Technologies Ltd. (NASDAQ:HIVE - Free Report) by 24.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 867,235 shares of the company's stock after selling 273,319 shares during the quarter. Millennium Management LLC owned approximately 0.59% of HIVE Digital Technologies worth $2,475,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HIVE. Wells Fargo & Company MN grew its position in shares of HIVE Digital Technologies by 60.9% in the 4th quarter. Wells Fargo & Company MN now owns 15,320 shares of the company's stock worth $44,000 after buying an additional 5,800 shares during the period. Lifeworks Advisors LLC grew its position in HIVE Digital Technologies by 46.2% during the 4th quarter. Lifeworks Advisors LLC now owns 16,307 shares of the company's stock valued at $46,000 after purchasing an additional 5,152 shares during the last quarter. Franklin Resources Inc. purchased a new stake in HIVE Digital Technologies during the 4th quarter valued at about $53,000. Tobam grew its position in HIVE Digital Technologies by 198.6% during the 4th quarter. Tobam now owns 19,060 shares of the company's stock valued at $54,000 after purchasing an additional 12,676 shares during the last quarter. Finally, LPL Financial LLC purchased a new stake in HIVE Digital Technologies during the 4th quarter valued at about $54,000. 24.42% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on HIVE. Rosenblatt Securities began coverage on shares of HIVE Digital Technologies in a research report on Friday, March 7th. They set a "buy" rating and a $6.00 price objective on the stock. Canaccord Genuity Group reissued a "buy" rating and set a $9.00 price objective on shares of HIVE Digital Technologies in a research report on Wednesday, March 26th. HC Wainwright reissued a "buy" rating and set a $10.00 price objective (up from $8.00) on shares of HIVE Digital Technologies in a research report on Thursday, February 13th. Wall Street Zen raised shares of HIVE Digital Technologies to a "sell" rating in a research report on Saturday, May 17th. Finally, Cantor Fitzgerald cut their price objective on shares of HIVE Digital Technologies from $10.00 to $8.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $7.64.

HIVE Digital Technologies Stock Performance

Shares of HIVE stock traded up $0.06 on Wednesday, reaching $1.94. The stock had a trading volume of 14,512,776 shares, compared to its average volume of 7,378,544. The stock has a market cap of $361.15 million, a P/E ratio of -38.80 and a beta of 3.52. HIVE Digital Technologies Ltd. has a 1 year low of $1.26 and a 1 year high of $5.54. The company has a debt-to-equity ratio of 0.03, a quick ratio of 10.41 and a current ratio of 10.41. The company has a 50 day simple moving average of $1.71 and a 200 day simple moving average of $2.51.

HIVE Digital Technologies Company Profile

HIVE Digital Technologies Ltd. operates as a cryptocurrency mining company in Canada, Sweden, and Iceland. The company engages in the mining and sale of digital currencies, including Ethereum Classic, Bitcoin, and other coins. It also operates data centers; and offers infrastructure solutions. The company was formerly known as HIVE Blockchain Technologies Ltd.